The market failed to hold on to 10,800 level on the Nifty, but maintained positive momentum for the third straight session on December 13 backed by Asian cues and rate cut hope after further fall in November retail inflation.
The Nifty 50 climbed 53.90 points to 10,791.50 and the BSE Sensex gained 150.57 points to close at 35,929.64 after hitting 36,000 level in intraday trade.
After a three-day rally with around 500 points gain and volatility in the second half of the third day may be an indication that there could be some profit booking in the coming session, experts said.
The Nifty 50 formed a bearish candle which also resembles a 'Spinning Top' kind of pattern on the daily charts.
India VIX fell by 3.24 percent to 15.29 levels. It has seen a sharp cut of 25.89 percent in the last three sessions which suggests that bulls are now getting a grip on the market with the expectation of limited downside.
According to Pivot charts, the key support level is placed at 10,747.83, followed by 10,704.12. If the index starts moving upward, key resistance levels to watch out are 10,836.93 and then 10,882.32.
The Nifty Bank index closed at 26,816.35, up 172.50 points on December 13. The important Pivot level, which will act as crucial support for the index, is placed at 26,709.52, followed by 26,602.68. On the upside, key resistance levels are placed at 26,937.32, followed by 27,058.28.
Sudarshan Sukhani of s2analytics.com
Buy Ambuja Cements with stop loss at Rs 215 and target of Rs 228
Buy Biocon with stop loss at Rs 627 and target of Rs 670
Sell Ashok Leyland with stop loss at Rs 105.5 and target of Rs 102
Sell HPCL with stop loss at Rs 229 and target of Rs 215
Sell Tata Motors with stop loss at Rs 170 and target of Rs 158
Mitessh Thakkar of mitesshthakkar.com
Buy Wipro with a stop loss of Rs 332 and target of Rs 356
Buy Capital First with a stop loss of Rs 534 and target of Rs 570
Buy Ujjivan Financial Services around Rs 240 with stop loss of Rs 234 for target of Rs 255
Sell Sun TV Network with a stop loss of Rs 572 and target of Rs 540
Prakash Gaba of prakashgaba.com
Buy GAIL India with target at Rs 354 and stop loss at Rs 340
Buy Lupin with target at Rs 870 and stop loss at Rs 820
Buy Motherson Sumi Systems with target at Rs 166 and stop loss at Rs 157
Buy United Breweries with target at Rs 1300 and stop loss at Rs 1240
We provide you sure shot Commodity & Equity Market Tips, Intraday tips, share market tips, Mcx bullion tips, Mcx tips, Crude tips, Stock tips, Future and Cash tips with Technical & Fundamental Research.
Visit: www.ripplesadvisory.com
Contact us @ +91-9644405056
Source: Moneycontrol
No comments:
Post a Comment